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Spring 2020
 

What to Do With Your Incentive Agreements in This Challenging COVID-19 Time

In this time of broad government actions due to a declared pandemic emergency, it is important to examine your incentive agreements to understand the potential risks your company faces if your company is unable to perform key obligations. 

  • Review your incentive agreements to confirm carefully and with specificity your obligations. 
  • Closely review the language of your agreements to determine if any of your obligations can be delayed due to a “force majeure” provision, a “market conditions” provision, or a similar provision. 
  • As soon as the crisis begins to abate, and perhaps sooner in certain situations, contact your incentive counterparty to discuss potential options.

Read more.


Ohio Site Inventory Program from JobsOhio

JobsOhio, the private nonprofit economic development organization in Ohio, is developing a new initiative named the Ohio Site Inventory Program (OSIP).  OSIP will provide grants and loans to support real property projects that will fill gaps in the existing supply of improved properties expected to be sought by prospects from JobsOhio’s targeted industry sectors. Read more.


Tax Sharing: California and Texas Take Different Intrastate Sales Tax Approaches Post Wayfair

In 2018, the United States Supreme Court ruled in South Dakota v. Wayfair that states may charge sales tax on purchases made from out-of-state sellers, even if the seller does not have a physical presence in the state.  The a spurred legislation to address interstate sales tax for online goods, but it has also generated scrutiny of the treatment of intrastate sales in some states, including California and Texas. Read more.


 

Contacts

William D.G. Baldwin
513.723.4030
wdbaldwin@vorys.com

Aaron S. Berke
330.208.1017
asberke@vorys.com

Kelly B. Bissinger
202.467.8844
kbbissinger@vorys.com

Sean P. Byrne
614.464.8247
spbyrne@vorys.com

Bryan H. Falk
216.479.6124
bhfalk@vorys.com

Nicholas R. House
216.479.6122
nrhouse@vorys.com

Barbara J. Jordan
614.464.5484
bjjordan@vorys.com

Christopher J. Knezevic
614.464.5627
cjknezevic@vorys.com

Joseph B. Mann
614.464.6313
jbmann@vorys.com

Jacinto A. Núñez
330.208.1046
janunez@vorys.com

J. Theodore Smith
614.464.6232
jtsmith@vorys.com

Lindsay Doss Spillman
216.479.6199
ldspillman@vorys.com

Jonathan K. Stock
614.464.5647
jkstock@vorys.com

Jay A. Surabian
202.467.8849
jasurabian@vorys.com

Jill S. Tangeman
614.464.5608
jstangeman@vorys.com

Kristin L. Woeste
513.723.4684
klwoeste@vorys.com

Scott J. Ziance
614.464.8287
sjziance@vorys.com


 

 

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This newsletter is for general information purposes and should not be regarded as legal advice. As always, please let us know if you want more information or have questions about how these developments apply to your situation.